The market capitalisation of eight of India’s top-10 most valued companies surged by Rs 1.55 lakh crore last week, with HDFC Bank and Tata Consultancy Services (TCS) emerging as the biggest gainers, driven by a strong trend in equities.
During the week, the BSE benchmark Sensex rose by 1,536.8 points, or 1.98%, while the Nifty climbed 374.55 points, or 1.59%. By Friday, the Sensex had gained 1,961.32 points, or 2.54%, closing at 79,117.11. The Nifty soared 557.35 points, or 2.39%, to settle at 23,907.25.
Among the top-10 firms, Reliance Industries and Life Insurance Corporation of India (LIC) saw declines in their market valuations.
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HDFC Bank’s market cap rose by Rs 40,392.91 crore to Rs 13.34 lakh crore, the highest among the top-10. TCS added Rs 36,036.15 crore to reach a market cap of Rs 15.36 lakh crore.
ICICI Bank’s valuation climbed by Rs 16,266.54 crore to Rs 9.01 lakh crore, while Infosys saw an increase of Rs 16,189.33 crore, reaching Rs 7.90 lakh crore.
Hindustan Unilever’s market cap rose by Rs 13,239.95 crore to Rs 5.74 lakh crore, and ITC gained Rs 11,508.91 crore, reaching Rs 5.94 lakh crore.
Bharti Airtel’s market cap increased by Rs 11,260.11 crore to Rs 8.94 lakh crore, while State Bank of India’s valuation surged by Rs 10,709.55 crore to Rs 7.28 lakh crore.
On the downside, LIC’s market cap fell by Rs 11,954.24 crore to Rs 5.62 lakh crore, and Reliance Industries saw a dip of Rs 2,368.16 crore, reducing its valuation to Rs 17.13 lakh crore.
Reliance Industries remained the most valuable company, followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, Infosys, State Bank of India, ITC, Hindustan Unilever, and LIC.
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